Hormel Foods (HRL) is doubling down on protein with its $1.06 billion U.S. acquisition of chicken producer Brakebush Brothers.
Hormel, which famously makes canned meat Spam, is buying Brakebush Brothers as it looks to expand its protein offerings to meet consumer demand.
The purchase of Brakebush Brothers, a private family-owned business, is expected to close in the first half of 2027.
In a statement, Hormel Foods said that the deal will expand its position in value-added chicken products.
Hormel expects the acquisition to strengthen its foodservice platform by improving operator relationships, category expertise, and an expanded direct sales channel.
The acquisition of Brakebush Brothers is also expected to boost Hormel’s profitability starting in fiscal 2028.
Consumers are increasingly focused on adding protein to their diets, fueled by popular dietary trends on social media.
Hormel Foods also sells luncheon meats, bacon, pepperoni, and deli selections to consumers.
HRL stock has declined 20% over the last 12 months to trade at $19.85 U.S. per share.
